Tencent to Offer Metaverse-Building Services for Asian Markets

Tencent to Offer Metaverse-Building Services for Asian Markets Tencent to Offer Metaverse-Building Services for Asian Markets  0

Tencent, the Chinese software and tech company, has announced its metaverse suite of services designed to target Asian markets. The company revealed that it will revamp its media offering with its new “metaverse-in-a-box” proposal, which aims to facilitate the task of building virtual worlds for third-party companies.

Tencent to Focus on Offering Metaverse Tools to Third Parties

Tencent, one of the biggest Chinese tech companies, has revealed its hand regarding the future of its metaverse strategy. The company announced that it will focus on offering “metaverse-in-a-box” services to its customers through its cloud division. This move, which comes as a complement to the media services offering that the company launched last year, aims to facilitate the task of developing virtual worlds for Tencent customers.

The tools launched by Tencent will reportedly be used to build and design these metaverse spaces by companies in gaming, media, entertainment, and retail, with various purposes in mind. Tencent aims to bring the services to customers in Asian markets, especially in Singapore, Malaysia, Indonesia, and Thailand, which will experience significant growth in this area according to projections from the company.

Poshu Yeung, Tencent Cloud International’s senior vice president, stated:

With more businesses now keen to explore and adapt to an efficient, transparent digital future, we are ready to leverage our technical experience in the fields of games, audio, and video to provide technical support for Web3, and work with industry partners to create a more immersive experience and nurture a better Web3 ecosystem.

A Pivot to Software

Tencent’s new plans point to a pivot from pursuing a metaverse hardware business to focusing on what the company is known for: software development. While the company announced the creation of its extended reality unit in June 2022 — which would reportedly develop native hardware for experiencing virtual worlds — recent reports point in the direction of the cancellation of these initiatives, and the disbandment of this group.

Tencent dismissed reports of said disbandment of this division, but did state it was making adjustments to its staff due to a change of plans. Other Chinese companies are also in the process of making cuts in their metaverse-related division and groups, like Bytedance, which is the creator of the Pico line of virtual reality (VR) headsets.

Tags in this story Asian Markets, bytedance, cloud, media services, Metaverse, tencent, vr headset, Web3

What do you think about Tencent and its metaverse plans? Tell us in the comments section below.

Tencent to Offer Metaverse-Building Services for Asian Markets  1 Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Tencent to Offer Metaverse-Building Services for Asian Markets  2 Edogawa Ward in Tokyo to Use Metaverse Tech to Solve ‘Hikikomori’ Problem METAVERSE | 3 days ago Tencent to Offer Metaverse-Building Services for Asian Markets  3 Tech Giant Globant Believes the Metaverse Will Have Its Make or Break Moment in 2023 METAVERSE | 3 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons, hxdbzxy / Shutterstock.com

Previous article

US May Consider Alexander Vinnik for Prisoner Exchange With Russia, Lawyer Says

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimerShow comments

More Popular News

In Case You Missed It

Tencent to Offer Metaverse-Building Services for Asian Markets  4

SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale

Grayscale Investments’ CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is ‘a Matter of When and Not … read more.

Fed’s Bullard Wants to Raise Bank Rate to 3.5% by Year’s End, Hints at 75 Basis Point Rate Hike Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design Terra’s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin


Updated: 02/24/2023 — 03:00

Leave a Reply

Your email address will not be published. Required fields are marked *

Btc news © 2021 Frontier Theme